"Target Markets Gone Wild" by Erica Duran

Posted on March 19, 2016 by Erica Duran, One of Thousands of Entrepreneurship Coaches on Noomii.

Target markets have gone wild in the modern entrepreneurial world causing procrastination, entrepreneurs second-guessing themselves, and staying broke way too long!

I think that having a target market and a very drilled down niche is vital (especially if you are working in the crowded online marketing space), but it does NOT have to take months staying in “research and planning” mode!

Selecting your target market & niche is important, but don’t spend months in research mode!

One of the very first things I do with a new client is to help them get REALLY clear on who THEY want to work with so they can move on to building their business and earning money!

There are so many billions of people in the world – there is no lack of clients for you – you get to choose who YOU want to work with.

Profiling and creating your target market avatar is different from having your Ideal Client Requirement Checklist in place.

The Ideal Client Requirement Checklist is a list of behaviors and traits that you are not available for when deciding if you would like to work with a client during your free consultation call (Discovery Call, Clarity Call, Strategy Session… whatever you call it).

You will want to keep this requirement list on your desk when on your free consultation calls to “stay strong” and not “cave in” and take on a client that will be a challenge to work with just because you need the money.

You need to stay strong and create the space to receive YOUR ideal clients!

Don’t take on these problem clients, you’ll only regret it!

It won’t be a good experience for either party and it will drain your energy.

I think a lot of gurus and coaches are making too big of a deal about the “Target Market Avatar”.

Yes, you need to know your ideal clients basic demographics and psychographics so you know one when you see one.

But do we really need to know their dog’s name and what their favorite kind of flower is?

I see a few too many new entrepreneurs writing long dissertations and “day-in-the-life essays” about their target market/avatar – almost like a work of a fiction novel!.

The term “niche down until it hurts” gets thrown around a lot.

Niching down and studying your target market is a great exercise.

It is so important that I’ve included an exercise in this article to help you narrow it down.

But…

Do it quickly! And then move on!

Don’t get too wrapped up in it!

Creating your first client avatar or target market profile is for YOU.

Don’t be afraid, you don’t have to turn clients away if they don’t fit your target!

The purpose of studying your target market is so YOU can FOCUS and go after it and not get distracted with creating programs for a bunch of different needs when you are just starting out because there are just too many people in the world for you to help them all.

Niche down! There are just too many people in the world – you can’t help them all!

You can have a good idea of who you want to work with, but you can’t control who you will organically attract.

You won’t know who you will organically attract until you get out there and interact with HUMANS!

So, yes I do think ferreting out the demographics and psychographics of your ideal client or target market is a must so that you have a focus when you start your outreach and outbound marketing practices, but I can pretty much guarantee you that it will change as you pivot through your entrepreneurial journey.

Do the initial work as I have outlined later in this article, talk to REAL people, tweak your messaging and marketing based on what you’ve learned from the people that are naturally following you.

Keep in mind that your target market is actually a moving target.

You are evolving and so are your ideal clients and followers – they are a moving target.

What I have found that works better than thinking up a target market, is to profile all the people you’ve loved working with in the past and/or profiling and surveying the people that are already following you on social media, subscribed to your list, or those that you are attracting to your business naturally.

To Work Backward to Create Your Target Market Avatar and Not Just Think It Up,
Think Of Those Who:
You’ve been friends with
Family
Past clients/customers
Co-workers from a job you’ve had
Colleagues
People you admire online/media/celebrity and why
etc.

Are there any similarities or patterns with these people?

There is a reason you were attracted or liked dealing with them?

Is there a pattern of people you don’t like working with?

You already have this data, you don’t have to imagine it up – use it!

Here The Demographics, Psychographics, Questions, and Other Identifiers You Should Think About When Profiling Your Past Target Market or Creating A Future Marketing Avatar (But Remember, Do NOT Spend Weeks On This Step):

Why are you in business?
What drives you to do this business?
What impact do you want to make to the marketplace? Who are you serving?
Who is your ONE Ideal Client?
Age
Gender
Income Level
Buying Habits
Occupation or Industry
Marital Status
Family Status (children?)
Geographic Location
Ethnic Group
Political Affiliations
Hobbies
Interests
Car they have
Stores they shop at
Magazines they subscribe to
Where do they hang out? (Online and offline)
What websites do they frequent?
What newsletters or ezines do they subscribe to?
Do they go out a lot (party types) or tend to stay home?
Where do they vacation?
What brands do they like?
etc.
What are their biggest fears and frustrations?
What are they struggling with?
What keeps them up at night?
What problems are these fears and frustrations causing in their life?
What are their desires around your business topic?
How would their life be different when they get what they want?
What’s possible for your ideal client?
What’s possible to your ideal client because of the products and/or services you provide?
When someone FIRST hears about what you offer, what’s their very first gut impulse?
How do they see your product or service benefiting them?
What is the ultimate end result for your client or customer?
What’s the problem/desire of your ideal client?
Which of these emotional triggers will cause your ideal client to buy from you?
• Save Time
• Save Money
• Make Money
• Avoid Effort
• Increase Happiness
• Find Success
• Be Pain-free / Better Health
• Have Fun
• Gain Praise
• Feel Safe and Secure
• Feel Liked or Loved / Be Popular
Why are they looking for a solution?
Why aren’t they doing this on their own?
What haven’t they solved yet?
What’s the solution to the problem?
What do you provide as a solution to their problems and/or desires?
What are their objections to hiring you/buying from you?
What outcomes can they expect after receiving your product and/or service?
Why is your product and/or service better/different than any/all alternatives available to your ideal client?

Again, use this exercise to get clear on your target market, but don’t let it hold you up longer from building your freedom based business and designing your luxury lifestyle!

If you would like to gain clarity and get super clear on your target market along with all the other systems, structures and practices you need in place to earn a consistent $5K to $20K+ per month, request your complimentary Aloha Strategy Session today!

© 2016 Erica Duran International | EricaDuran.co | Concierge Team Email: Aloha@EricaDuran.co
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